JPMorgan Chase said Sunday it will pause all PAC contributions for at least the next six months.
“The focus of business leaders, political leaders, civic leaders right now should be on governing and getting help to those who desperately need it most right now,” it told Reuters in a statement. “There will be plenty of time for campaigning later.”
Citi, whose CEO Michael Corbat said he was “disgusted” by the riots, said it will also halt all PAC donations up to April.
Its PAC raised around $740,000 for federal candidates in the 2019-2020 cycle, the Wall Street Journal reported, citing information from the Center for Responsive Politics. This includes a $1,000 donation to the campaign of Sen. Hawley.
“We want you to be assured that we will not support candidates who do not respect the rule of law,” Citi said in an internal memo to employees last week, first reported by Popular Information.
“We intend to pause our contributions during the quarter as the country goes through the Presidential transition and hopefully emerges from these events stronger and more united.”
3M, the consumer goods conglomerate that makes Post-It Notes and Scotch tape, has reportedly paused all political contributions until March, according to Popular Information.
FedEx, Target, CVS Health, AT&T, and Walmart are among the companies currently reviewing their positions on political contributions, Popular Information reported. Berkshire Hathaway Energy, Ford, and Bank of American told the publication they would review donations on an individual basis.